UK; 73 graduates vie for each vacancy

According to the report it is even harder to find work this year as openings are down on 2011 amid the economic uncertainty worsened by the eurozone crisis.

The survey of 215 top firms also reveals how rising numbers of bosses are considering raising minimum requirements from a 2.1 class degree to the top grade.

That figure is an average and the number is even higher in some sectors, with 154 chasing each post in retail and 142 vying for a single job in investment banking.

Meanwhile, as part of a drive to widen the social diversity of employees, graduates also face questions on their school and parents’ jobs when they apply for trainee schemes.

A third of firms reported that they are carrying out the checks or plan to do so.

The trends emerged during in-depth interviews with firms who are members of the Association of Graduate Recruiters.
However, Carl Gilleard, AGR chief executive, urged ‘considerable caution’ over plans to restrict recruitment to those with firsts.

He warned that exceptional academic achievement was not always an indicator of potential to excel in the workplace.

Degree classes were not ‘national standards’ and varied across universities and courses.

Instead, he said, employers should look at the broader picture, including extra-curricular activities and work experience.
According to the survey, the number of vacancies this year is down 0.6 per cent on last year.

One investment bank said: ‘Market conditions have been very affected by the eurozone, especially if you are in international business. The industry would rather hire less and face the consequences later.’

The report also reveals how 13 per cent of firms are monitoring whether graduates attended private or state schools in a ‘drive to diversify the workforce’.

MOL/JR

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